Lockheed to Build Newest and Most Advanced F-16

Lockheed Martin has received a contract for $1.12 billion to produce 16 new F-16 Block 70 aircraft for The Kingdom of Bahrain. Block 70 is the newest and most advanced F-16, combining numerous capabilities and structural upgrades. The jet has improved radar systems, advanced weapons capabilities, and battlespace awareness. Read the press release below from Lockheed Martin.

Lockheed Martin (NYSE: LMT) received a $1.12 billion contract from the U.S. government to produce 16 new F-16 Block 70 aircraft for the Royal Bahraini Air Force. The Undefinitized Contract Action award represents the first F-16 Block 70 sale and the first F-16 production program to be performed in Greenville, South Carolina.

The Kingdom of Bahrain is the first customer to procure the F-16 Block 70, the newest and most advanced F-16 production configuration.

“We value our long-standing relationship with the Kingdom of Bahrain and look forward to beginning production activities on their first Block 70 aircraft at our facility in Greenville,” said Susan Ouzts, vice president of Lockheed Martin’s F-16 Program. “This sale highlights the significant, growing demand we see for new production F-16s around the globe.”

Lockheed Martin expects F-16 production to create between 150 and 200 new jobs in Greenville. F-16 production also supports hundreds of U.S.-based Lockheed Martin engineering, procurement, sustainment and customer support jobs and thousands of U.S. supplier jobs. The F-16 supply chain is currently supported by 450 U.S. suppliers in 42 states.

The combat-proven F-16 continues to prove itself as the world’s most successful, combat-proven multi-role fighter. To date, 4,604 F-16s have been procured by 28 customers around the world. Approximately 3,000 operational F-16s are flying today with 25 leading air forces, including the U.S. Air Force.

Steve Schneider

Steve Schneider is a weapons specialist for Richardcyoung.com. He is our website and graphic design specialist for Youngsworldmoneyforcast.com, Richardcyoung.com, and Youngresearch.com. Steve customizes and creates all of the images and political cartoons on our websites.